Oct 27, 2020
China Says Will Take Necessary Measures on U.S. Arms Sales to Taiwan
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BEIJING (Reuters) - China's foreign ministry said the country will take necessary measures to uphold its sovereignty and security interests, after the United States approved a further $2.4 billion in potential arms sales to Taiwan.
China urges the United States to stop the arms sales to prevent further damage to China-U.S. relations, foreign ministry spokesman Wang Wenbin said at a regular news conference in Beijing on Tuesday.
China on Monday announced it would sanction Lockheed Martin, Boeing Defense, Raytheon and other U.S. companies it says are involved in Washington's arms sales to Taiwan.
(Reporting by Yew Lun Tian; Writing by Gabriel Crossley; Editing by Himani Sarkar)
Copyright 2020 Thomson Reuters.
Tags: Taiwan, United States, Asia
News Source: usnews.com
Mexico Extends Northern Border Tax Breaks to Southern Border
MEXICO CITY (AP) — Mexican President Andrés Manuel López Obrador announced Friday he will extend tax breaks for communities on the northern border until 2024, and broaden them to cover the southern border as well.
Mexican towns along the U.S. border currently pay a 20% maximum income tax, as compared to 30% in the rest of the country. Gasoline is cheaper there, and the value-added tax is 8%, compared to 16% everywhere else.
Those measures will now be extended to 22 townships along the southern border with Guatemala. The city of Chetumal, near the border with Belize, will become a duty-free zone with a daily maximum of $1,000 in goods per person.
The measures will go into effect Jan. 1.
Those and other measures — like a higher minimum wage in northern border areas — are meant to compensate for higher costs of living there. The measures on the southern border are meant to stimulate economic development in some of the poorest areas of Mexico, and to decrease incentives for the trade in black-market fuel across the border.
Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Tags: Texas, Associated Press